Avis Budget Group Q4 Loss Narrows; Issues FY14 Outlook - Quick Facts

(RTTNews) - Avis Budget Group Inc. (CAR) Wednesday reported fourth-quarter net loss of $28 million or $0.26 per share, narrower than $46 million or $0.43 per share in the comparable quarter last year.

Adjusted earnings were $0.15 per share, compared to adjusted loss of $0.07 per share last year. Analysts polled by Thomson Reuters expected the company to earn $0.12 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenues rose to $1.85 billion from $1.70 billion last year, while seven analysts estimated revenues of $1.84 billion for the quarter.

Looking forward to the full-year 2014, the company expects adjusted earnings in the range of $2.45 per share to $2.85 per share and revenues to be about $8.3 billion to $8.5 billion. Analyst currently estimate earnings of $2.72 per share on revenues of $8.35 billion.